Morpho Labs raises $175M at $2B valuation, one of DeFi's largest funding rounds

Morpho Labs closed a $175M funding round led by Paradigm, Andreessen Horowitz and Ribbit Capital, valuing the company at approximately $2 billion. Downstream investors included Circle, VanEck, Ledger and SBI Group. The capital will fund technical development and adoption of onchain credit for institutions, banks and fintechs.